We are often asked what we as a reputable dealership can do to help our customers rebuild or establish their credit. First, lets go through some information that will help us understand exactly what credit is.
What is credit repair, and who needs it?
- The biggest problem in todays market is credit.
- Credit improvement is a mystery to nearly everyone.
- No help is provided by the credit bureaus because of the high cost involved in handling verifications and disputes.
- Credit providers charge more interest to consumers with imperfect credit
- Credit repair companies charge thousands of dollars for services that consumers can easily do by themselves
Be aware! Spot the scams
Can You Spot Credit Repair Scams?
When you're looking for credit repair services, what's the most important issue to you? Consumers are typically looking for the "fastest results"? This is not the right way of doing it! Often times agencies will go to extreme lengths, typically illegal methods to "better" your credit score. These methods more often than not, destroy any chance of rebuilding your credit.
Who's to blame? Who is there to help you, and who is there to help themselves?
Follow these steps to not only keep yourself away from fraudulent businesses and agencies.
Question: "How long will it take to rebuild my credit?"
Quick fixes are simply not there! If they were, everyone would be doing it. Repairing your credit requires a plan, drawn out on a contract to show the goal and how you are going to get there.
Question: "Can I can perform any credit repair on my own."
All legitimate credit repair companies will show you what your rights are and guide you in respect to the credit repair services you can do for free. Things such as obtaining your free annual credit reports from each of the three credit bureaus, monitoring the entries in your report, disputing wrong entries, good financial management and so on, are those issues that you might at some time take care of on your own.
The company will make you aware of what you can handle on your own, and what will better be left in the hands of professionals. The value of the credit repair services that company is offering can be determined based on these kinds of interactions.
Find out if the company is a member of the Better Business Bureau.
Finding a company that has been around the block for several years, knows the laws and follows them, and is accredited by a body such as the Better Business Bureau. Do your research, if a company doesn't have a A or higher rating, chances are there is a reason for it!
I Want to Repair My Credit? Now What?
Obtaining a credit card is the first step to rebuilding your credit. Be responsible, do not go over your credit limit and don't over extend yourself! Plan out your budget and pay off your credit card every month to avoid interest charges.
The best way to repair your credit is through an auto loan, through a dealership that deals with financial institutions reporting to the credit bureaus. This guarantees that if you a diligent about making your payments on time, it is reflected in your credit score!
To learn more, please contact us at (204)777-2277 to start the process, or click the link below.